{"id":7192,"date":"2020-08-11T00:00:00","date_gmt":"2020-08-11T00:00:00","guid":{"rendered":"https:\/\/bxglobal.wpengine.com\/ca\/impacts-of-coronavirus-on-the-building-industry\/"},"modified":"2023-02-24T05:17:04","modified_gmt":"2023-02-24T10:17:04","slug":"coronavirus-impacts-the-building-industry","status":"publish","type":"post","link":"https:\/\/stage.buildxact.com\/ca\/blog\/coronavirus-impacts-the-building-industry\/","title":{"rendered":"Impacts of Coronavirus on the building industry"},"content":{"rendered":"

The big picture impacts of the Coronavirus<\/span><\/b>\u00a0<\/span><\/p>\n

The experts in the construction industry all agree that the coronavirus will have lasting effects and changes for years. Now that economies are\u00a0opening up\u00a0across the U.S., the rate at which recovery occurs is anything but crystal clear. Even Kermit Baker, chief economist for the\u202f<\/span>Joint Center for Housing Studies<\/span><\/a>, said in a recent\u202f<\/span>podcast<\/span><\/a>\u202fthat the next six to nine months is cloudy. One thing is sure, the building and remodeling industry will not return to business as usual.<\/span>\u00a0<\/span><\/p>\n

The new normal will not look anything like normal. From the office to the job site, the industry has dramatically changed to ensure everyone stays safe and healthy. While each\u202f<\/span>state<\/span><\/a>\u202fhas its protocols, industry watchdogs like the Occupational Safety and Health Administration (<\/span>OSHA<\/span><\/a>) have standards and directives for employers and employees to keep workers safe.<\/span>\u00a0<\/span><\/p>\n

The\u202f<\/span>CDC<\/span>\u202f(Center for Disease Control and Prevention) has published resources for the construction industry to follow \u2014 masks, gloves, hand sanitizers, wipes, and separate spaces \u2014 to assure homeowners there is a protocol and defined lines to staying safe.<\/span>\u00a0<\/span><\/p>\n

The positive impacts of the Coronavirus<\/span><\/b>\u00a0<\/span><\/p>\n

As a result of sheltering in place, Americans have had<\/span>\u00a0<\/span>more time at home, and they\u2019re reacting with key home improvement decisions. A<\/span>\u00a0<\/span>home improvement survey, conducted in May<\/span>\u00a0<\/span>by\u202f<\/span>LightStream<\/span>, shows that 73 percent of homeowners still plan to<\/span>\u00a0<\/span>renovate their home in 2020, down slightly from 77 percent from its January<\/span>\u00a0<\/span>survey. This survey further breaks down specific home improvement projects.<\/span>\u00a0<\/span>Those are inspiring numbers.<\/span>\u00a0<\/span><\/p>\n

New research from\u202f<\/span>Houzz<\/span>\u202fshows that 52 percent of homeowners in the middle<\/span>\u00a0<\/span>of a home renovation project was able to continue when the pandemic was<\/span>\u00a0<\/span>declared. It helped that many states considered construction an essential<\/span>\u00a0<\/span>business.\u202f<\/span>\u00a0<\/span><\/p>\n

Another study,\u202f<\/span>The America at Home Study<\/span><\/a>, shows that almost half of current renters<\/span>\u00a0surveyed (incomes $50,000+ and ages 25-74)\u00a0<\/span>prefer to own rather than rent, representing\u00a0<\/span>demand potential of\u00a0<\/span>7.4 million\u00a0<\/span>homebuyers<\/span>\u00a0in the U.S.<\/span>\u00a0<\/span>The\u00a0<\/span>renter\u00a0<\/span>groups most likely to buy\u00a0<\/span>a home<\/span>\u00a0are millennials and younger Gen X<\/span>\u00a0with incomes of $75,000 and above<\/span>. They<\/span>\u00a0<\/span>prefer single-family detached homes (79%).<\/span>\u00a0<\/span><\/p>\n

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The long-lasting impacts of the Coronavirus<\/span><\/b>\u00a0<\/span><\/p>\n

There are undoubtedly many new procedures and expectations to get back to work. Here is a list of key measures to consider as a result of coronavirus and getting back to work:<\/span><\/p>\n

1. <\/span>Jobsite Health and Safety Measures<\/span>: Many states will require additional safety precautions from temperature checks, masks for work that is considered high risk, physical distancing, and more. Check with your state or local Home Builder Association, like this one from the oldest and largest of the NAHB, the Master Builder Association of King and Snohomish County in the greater Seattle area, that offers members a\u202f<\/span>Toolkit<\/span>\u202fto restart construction.<\/span>\u00a0<\/span><\/p>\n

2. Touchless Interaction<\/span>: If you haven\u2019t embraced technology, now is the time. The landscape of in-person, face-to-face business transactions has gone virtual, and the\u202f<\/span>companies that offer platforms<\/span><\/a>\u202fhave responded. Pick a video conferencing platform that works best for your business and customers. Moving to a virtual meeting platform can save valuable time by cutting out commute time as well as allowing homeowners to be on the call no matter where they may<\/span>\u00a0be<\/span>\u00a0and not rushing to a specific area to meet. Streamlining the process saves time and, in some cases, the number of meetings required to complete\u00a0<\/span>the project<\/span>. The\u00a0most commonly used\u00a0platforms that are making it easy to use during the pandemic include:<\/span>\u00a0<\/span><\/p>\n